US stocks open higher; Dow up 0.18%, S&P 500 up 0.07%, Nasdaq up 0.17%; Micron Technology (MU.O) up 6.6% after UBS raises PT to USD1625

LOGAN, president of the Federal Reserve Bank of Dallas, said on Wednesday that if the Strait of Hormuz remains closed longer due to a U.S.-Israel war with Iran, the world may need to reduce oil and gas consumption as shipping fails to return to pre-war levels. U.S. oil firms in a Dallas Fed survey expect U.S. output to rise 250k bpd this year and 500k bpd next year; global supply has fallen about 13 mln bpd since the Iran war and the shortfall is being met by drawing limited inventories, though LOGAN expects energy markets to roughly rebalance soon.

On Wednesday shares of little-known European chipmaker X‑Fab Silicon Foundries SE jumped more than 70% after heavy promotion by a popular X account. The account, Serenity, which lists over 400,000 followers, posted that it had taken a position in Paris-listed X‑Fab, which operates six semiconductor manufacturing sites worldwide; the post drew more than 500,000 views and sparked a retail trading rush that drove the stock up as much as 77%. By the afternoon the stock remained up over 30%, trading volume was roughly 17 times its three‑month average and the security was halted several times because of sharp price swings. “We have noted recent increases in the company’s share price and trading volume,” X‑Fab CEO Damian Mark said, adding the company is not aware of any material, non‑public developments that should be disclosed. This is not the first time this year European tech stocks have surged after Serenity’s recommendations; the account’s profile describes the user as both an “AI/semiconductor supply‑chain analyst” and an “AI research scientist.” X‑Fab is trading around €12, more than double the analysts’ average PT (≈€5.5); of eight analysts covering the name, only one rates it Buy.